President Bola Tinubu has approved a 30 percent reduction in debts owed by domestic airlines to aviation regulatory agencies, as part of efforts to stabilize the country’s aviation sector.
Minister of Aviation and Aerospace Development, Festus Keyamo, announced the debt cut on Thursday, stating that he received the directive from the President’s Chief of Staff, Femi Gbajabiamila.
The debt relief applies to liabilities owed by local carriers to key agencies, including the Federal Airports Authority of Nigeria (FAAN), Nigerian Airspace Management Agency (NAMA), and the Nigerian Civil Aviation Authority (NCAA).
Domestic airlines have repeatedly flagged mounting debts, high operating costs, and foreign exchange challenges as major threats to their sustainability.
Industry operators say the discount will provide some respite and help carriers meet safety and operational obligations.
Keyamo noted that the move reflects the Tinubu administration’s commitment to supporting indigenous airlines and improving air connectivity across the country.
The Ministry of Aviation is expected to release implementation guidelines for the debt reduction in the coming days.
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